President Shavkat Mirziyoyev signed a decree on March 20, creating the "Yangi Avlod" special industrial zone in Tashkent, as reported by the Ministry of Justice. The industrial zone will be situated in the Yangikhayot district of the capital city, with a special regime lasting for an initial 30 years, extendable in the future.
Enterprises within the Yangi Avlod free zone will enjoy tax exemptions and other benefits similar to those in special economic zones. The zone aims to attract investment, with plans to launch projects worth $1.5 bn by the end of 2025, providing 2,500 permanent jobs.
Management of the Yangi Avlod FEZ will be handled by a limited liability company of the same name. It will oversee land allocation through E-auction for prospective investors.
Earlier Daryo reported that on February 16, President Shavkat Mirziyoyev of Uzbekistan issued a resolution to establish the Free Economic Zone (FEZ) "Ipak Yuli" in the Andijan region. The main objectives of this initiative are to enhance industrial output, encourage the processing of local raw materials, and foster the production of competitive goods geared towards export.
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